S&P Says U.S. Was Minutes From Falling Below Detroit In Bond Rating

S&P Says U.S. Was Minutes From Falling Below Detroit In Bond Rating Leah McGrath Goodman from Newsweek wrote a great piece about how the federal government’s rating on S&P would plummet. The Republicans caved and agreed to restore the government and extend the debt ceiling for a number of good reasons. The Democrats and the […]

Hey Congress, Governing Is Not Like An Episode Of Star Trek

You Are Not There To Play Star Trek’s Captain Kirk “Politics is Hollywood for ugly people” -Paul Begala Anyone who has ever watched the television show Star Trek more than few times knows the formula for a good Star Trek episode goes something like this, the crew of the Enterprises finds themselves in a predicament […]

S&P Lawsuit Portrays CDO Sellers as Duped Victims

Oh, the poor suckers at Citigroup Inc. and Bank of America Corp., fooled about the stench of their own garbage by those sneaky credit raters at Standard & Poor’s. The U.S. Justice Department made some peculiar allegations in its lawsuit this week against S&P and its parent, McGraw-Hill Cos. According to the government, Citigroup was defrauded by S&P credit […]

Federal Court Allows Fraud Claims Against Moody’s and S&P To Proceed

Basil Katz, Reuters A Manhattan federal judge on Friday refused to dismiss a lawsuit seeking to hold credit rating agencies responsible for misleading investors about the safety of a risky debt vehicle that they rated. U.S. District Judge Shira Scheindlin denied a bid by Moody’s Investors Service and Standard & Poor’s to dismiss the claims, […]

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